A list of companies cutting their dividend

Here is a list of companies that have cut their dividend due to the current market downturn, some of these companies I hold so effects me, I just wanted to see if we can form a list for people as to make it easier,
Feel free to add below as they announce it. Good luck All, keep your heads up!

ITV
Micro Focus
Kingfisher
Marks & Spencer
InterContinental Hotels
Hammerson
Travis Perkins
Intu
Crest Nicholson
William Hill
Aggreko PLC
Bonhill Group
Card Factory PLC
Colefax
Filta Group Holdings PLC
G4S
Go-Ahead Group PLC
Greggs PLC
IWG PLC
N Brown Group PLC
TheWorks.co.uk PLC
Stagecoach PLC
Synectics PLC

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There’s a bunch in here for someone less lazy than me to transcribe:
https://www.proactiveinvestors.co.uk/companies/news/915566/dividend-dump-hits-15bn-as-uk-plc-conserves-cash-for-coronavirus-battle-915566.html

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Would you consider dividend cut negative or these companies are actually prudent in managing their cash flow? I’d be tempted to think the latter, but in the meantime, if a company cuts dividends in tough times, perhaps it’s not a great company to begin with.

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It’s not necessarily negative. But it means that their business model is not stable enough to pay dividends consistently and that maybe these companies are not right for a very longterm dividend strategy.

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Not sure many (any) businesses have effective mitigation strategies to weather a pandemic which results in a thus far open ended economic shutdown. This is not tough times, this is an unprecedented demand shock. IAG which is sitting on ~USD9bn cash is likely to be more circumspect about ‘protecting’ its dividend as reality sets it.

I think from an investor’s perspective, if equity income is essential, probably would be quite negative! But given the circumstances, as an investor, I’d want the companies I’ve invested in to do the right thing by their employees, suppliers and other stakeholders over and above my requirement for a dividend. Not only that, if various covenants are breached, I’d want the cos in question to shore up the business to weather the storm.

You’d be surprised how close to the wind many highly rated listed businesses are sailing, with eye watering amounts of leverage, leaving only modest space to manoeuvre in even moderately stressed scenarios.

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Today’s declarations 25/03/2020

Cairn Homes
DFS
Vitec
Persimmon
Volution Group
Rentokil
Unite
McCarthy & Stone
Morgan Sindall
Wilmington
Mears
Halfords
Animalcare
Bellway
Walker Greenbank

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19/03/2020

National express - monitoring their declared dividend

Playtech cut their declared dividend

Portmeiron no final dividend to conserve cash

NewRiver reit Q4 dividend cut

Crest Nicholson cut their declared dividend

Next plc deferred final dividend

Elementis Cut their declared dividend

20/03/2020

Travis Perkins cancelled their already declared dividend

Intercontinental Hotels Group cancelled their declared dividend

Marks and Spencer will not pay a final dividend this year

JD Wetherspoon will not pay an interim dividend

SCS declared an unchanged dividend of 5.5p

23/03/2020

Stagecoach no final dividend

Go ahead cancels declared dividend

Aggreko cancels declared dividend

Card Factory no final dividend

ITV cancels declared dividend

IWG cancels declared dividend

N Brown Group suspends dividends for the foreseeable future.

24/03/2020

Santander has cancelled its 2020 interim (paid in November 2020) choosing instead to make a single payment in May 2021. Declared dividends unaffected.

Mortgage Advice Bureau was going to declare 12.8p, but instead has declared 6.4p now with 6.4p delayed.

Dunelm has cancelled their declared dividend

Redrow has cancelled their declared dividend

Gateley has cancelled their declared dividend

RPS has cancelled their declared dividend

Today’s declarations 25/03/2020

Cairn homes cancels declared dividend

DFS cancels declared dividend

Vitec cancels declared dividend

Persimmon cancels declared dividends

Volution Group cancels declared dividend

Rentikil cancels declared dividend and suspends dividend payments

Unite cancels declared dividend and suspends dividend payments

McCarthy & Stone cancels declared dividend

Morgan Sindall cancels declared dividend

Wilmington cancels declared dividend

Mears will not pay a final dividend

Halfords suspends dividends indefinitely

St Modwen Properties adjourns AGM therefore delaying the dividend until a new AGM approves the dividend.

Keller, similarly to NEXT plc, has put the declared dividend under review

Animalcare defers the payment of its final dividend

Bellway will not pay an interim dividend

Walker Greenbank will not pay a final dividend

SSP defers final dividend payment from 27/3 to 4/6 and will ask shareholders to waive their entitlement. Will not pay an interim for H1 2020.

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Good morning,

Would you recommend looking for ETFs or Investment Trusts which focus on dividends, alternatively a wait and see approach with any companies we have invested into?

I am not adverse to investing into gilts to achieve income. My preference is to invest directly.

Regards,

I have invested into ETF’s that pay dividends over the world.

Not mentioned as far as I can see: TaylorWimpey have cancelled their dividend.

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Just seen this. A list of companies deferring or cutting their dividends.

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Well said. These are crazy times and it would be nice if businesses put people before profits… which I think will make employees appreciate their company and become more loyal and potentially even work harder as a result.

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there’s a thread on reddit regarding Dividend cuts, mostly US stocks though: https://www.reddit.com/r/dividends/comments/fhfgsf/coronavirus_dividend_cut_list/

Another one

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British Land :frowning: :sleepy: :disappointed_relieved:

Dividend investors seem to be getting double punished, 1st by buying at all time highs and now having the dividends cut or paused. Will this affect a dividend investors strategy going forward and will these dividends be re-introduced at similar percentages to what they were paused at?

Lloyds as of the morning ouch!!!

Yeah I have a feeling a lot of the less experienced dividend investors may panic sell here. Personally I think the cuts are a good thing and if you really believe in the company you are invested in, chances are you will be able to buy at a discount, putting you in a better position longer term.

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Useful (and long!) list of dividend cuts here

https://www.dividenddata.co.uk/dividend-cuts.py?market=alldividends

A lot of my stocks were bought as a dividend portfolio. Made over £300 in divs in March, but looks like it’s going to be a lot less for the rest of the year.

Rather lose a dividend than equity dilution lets.see.how well the capitalisation guidance post the credit crunch work

Letter from pra went to insurance companies as well

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